Daily Briefing: PM Lee unsure if RCEP will be finalised in 2018; Singapore urges developers to make low energy buildings

And CCCS slaps $26.9m fine to 13 fresh chicken distributors.

From Reuters:

Prime minister Lee Hsien Loong is still unsure on whether the Regional Comprehensive Economic Partnership (RCEP) backed by China will be finalised in 2018.

“(We) hope to achieve a substantial conclusion to the RCEP by the end of this year, but that is not yet assured,” Lee said at a World Economic Forum event in Hanoi.

Member countries of the Association of Southeast Asian Nations are working to finalise terms of the Regional Comprehensive Economic Partnership (RCEP) trade agreement, which also includes China, Australia, India, Japan, South Korea and New Zealand.

Read more here.

From Property Guru:

The Singaporean government unveiled the new Green Mark for Super Low Energy (SLE) which is one of the highest certifications yet under its green building rating system.

It will recognise remarkably low-consumption structures, especially net-zero energy buildings, in the city-state.

“By setting such new performance benchmarks, Singapore can play an important role in mitigating climate change and doing our part as a responsible global citizen,” said Building and Construction Authority (BCA) CEO Hugh Lim said.

A project can attain the Green Mark for SLE by following certain Energy Use Intensity (EUI) benchmarks. Office buildings cannot use more than 100 kilowatt-hours per square metre a year to qualify for a certification, while schools cannot consume above 25 kilowatt-hours per square metre a year.

Read more here.

From Yahoo! News Singapore:

The Competition and Consumer Commission of Singapore (CCCS) slapped fines worth $26.9m to 13 fresh chicken distributors including Lee Say Group’s seven companies and Toh Thye San Farm for their price-fixing and anti-competitive behaviour.

This followed an investigation that commenced in March 2014 after it received information from a whistleblower.

The other companies involved are Gold Chic Poultry Supply, Hy-fresh Industries, Kee Song Food Corporation, Ng Ai Food Industries and Sinmah Poultry Processing.

The commission’s investigations revealed that, from at least September 2007 to August 2014, the companies engaged in discussions on prices and expressly coordinated the amount and timing of price increases of certain fresh chicken products sold in Singapore.

Read more here.

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